How To Download Banking Transactions with Quicken 2007
Quicken 2007's banking features make it easier to maintain and balance a checkbook electronically than by using a manual method. To automate checkbook maintenance even further, use Quicken Online Services "Transaction Update" to provide a two-way, direct connection between Quicken 2007 and your bank and eliminate the need to enter banking transactions manually. Internal changes to the 2007 edition make it easier to connect to your bank and automatically download banking transactions, significantly reducing the possibility of data entry errors in your checkbook.
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Instructions
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Register for a Transaction Update Account
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Open your checkbook register and from the "Download Transactions" tab at the bottom of the screen, select "Set Up Download."
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Connect to your bank through Quicken 2007 and follow the instructions your bank provides to register for a Transaction Update account.
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Proceed to activate your account after receiving a username and password via postal mail.
Activate Transaction Update Account
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Open your checkbook register and click "Set Up Download."
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Enter the username and password you received from your bank, then select "Connect directly to your financial institution through Quicken" to connect to your bank and perform an initial transaction download.
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Review downloaded banking transactions and delete transactions already in your checkbook. Quicken downloads transactions to a separate window at the bottom of your register and provides options to accept or delete individual transactions.
Using Transaction Update
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Open the checkbook register and select "Update Transactions" from the "Download" tab at the bottom of the screen.
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Enter your password information and select "Update Now."
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Review downloaded transactions. Select individual transactions to enter in your checkbook, or choose to enter all transactions by clicking "Accept All."
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Tips & Warnings
Before getting started, make sure your bank offers online account services. Select "Online" from the Quicken 2007 main menu and then "Participating Financial Institutions" to see if your bank is a Quicken partner.
It takes approximately five to seven business days to receive a username and password when you initially register for a Transaction Update account. Banks send this information by mail for security reasons.
Once you activate a Transaction Update account in Quicken 2007, the "Set Up Download" button changes to read "Update Transactions."
Quicken 2007 marks banking transactions as "cleared" as soon as you accept them into your checkbook register. This reduces the time it takes to reconcile your bank account each month and ensure your balance is always up-to-date.
Be aware that some banks charge a monthly fee for Transaction Update accounts. Check with your bank before establishing the account or visit the bank website.
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